The executive vice-chairman, speaking as the club announced its third-quarter figures, said record revenues will ensure the incoming manager, thought to be Louis van Gaal, will have money to spend.

Third-quarter revenues grew 26 per cent to £115.5million, while sponsorship revenue also rose 43.5 per cent.

Furthermore, gross debt has fallen by 4.3 per cent to £351.7million.

But player wages have grown, with overall staffing costs rising by £8.5million to £53.4million because of "player acquisitions and renegotiated player contracts".

Woodward, who is expected to answer questions from investors this afternoon, said: "We once again generated record revenues and EBITDA (earnings before interest, taxes, depreciation, and amortisation) as all of our businesses delivered impressive year over year growth.

"This puts us in a healthy financial position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season."